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Europe, Free Speech, And The Sinister Repression Of The Rating Agencies

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The ratings agencies are a bunch of pricks and not worth defending at any level. Regardless!

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So no one objected when the rating agencies rubber stamped crap, now they've decided to suggest crap is indeed going to turn out to be crap everyone is in uproar.

Tell people something they want to hear they will thank you for it.

Tell people the truth and they will hate you for it.

I think Monbiot needs to reword to something like this.

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it's called free speech.and this is where it'll start,some innocuous little law to hamper someone akin to the ratings agencies and then before you know it,joe public can't say squat about maccy d's because they're gonna get sued..................

In this context I'm afraid that's bo11ocks my friend.

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Ambrose has lost it completely...

Instead of writing about the real elephant in the house, which is our debt based monetary system (which actually means that DEBT IS LITERALLY WEALTH) he gets lost in these games that only distract from the core issue.

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Ambrose has lost it completely...

Instead of writing about the real elephant in the house, which is our debt based monetary system (which actually means that DEBT IS LITERALLY WEALTH) he gets lost in these games that only distract from the core issue.

Yep, Orwellian gob shite.

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it's called free speech.and this is where it'll start,some innocuous little law to hamper someone akin to the ratings agencies and then before you know it,joe public can't say squat about maccy d's because they're gonna get sued..................

It's nothing to do with free speech.

You're free to spout bolux, and I'm free to ignore it. And vice versa.

Oh, and the rating agencies are free to spout bolux, and the EU is free to ignore it. Whether it's wise to do so is another matter, but recent history tells us that believing the ratings agencies is a problematic strategy. Insofar as we had a Κασσάνδρα warning of the bust, it was the likes of our Vince, not the agencies whose job it should've been.

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It's nothing to do with free speech.

You're free to spout bolux, and I'm free to ignore it. And vice versa.

Oh, and the rating agencies are free to spout bolux, and the EU is free to ignore it. Whether it's wise to do so is another matter, but recent history tells us that believing the ratings agencies is a problematic strategy. Insofar as we had a Κασσάνδρα warning of the bust, it was the likes of our Vince, not the agencies whose job it should've been.

Quite. If the ECB wants to ignore the agencies, they have every right to do so.

They are also free to setup their own state run competitor to the agencies.

Investors can make up their own minds who to listen to.

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As Bill Gross put it (paraphrasing):-

Any professional buyer of debt who relies on the rating agencies isn't doing their job.

Or as Bob Dylan put it rather more eloquently:-

"You don't need a weather man to know which way the wind blows"

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Quite. If the ECB wants to ignore the agencies, they have every right to do so.

They are also free to setup their own state run competitor to the agencies.

Investors can make up their own minds who to listen to.

Isn't the power of the agencies institutionalised to a degree in that certain types of investor are bound by their ratings? Pension funds being one example.

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Isn't the power of the agencies institutionalised to a degree in that certain types of investor are bound by their ratings? Pension funds being one example.

Indeed they are and that is where the implied power of thesse ratings agencies is derived.

In some ways they are as much an instrument of financial war a F16's are of actual wars. Make no mistake there is a financial war going on for the survival of the USD as the reserve currency.

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I thought that was the case with certain pension funds that have fixed liabilities as opposed to managed funds such as Pimco.I'm not sure as to the scale of those who are bound by that sort of restriction and those that aren't.would welcome enlightenment from someone who knows.

dont know about pensions but every financial company with corporate or country exposure is bound by the rating agencies in as much as every country regulator around the world calculates cost of Capital based on Rating agency ratings.

Its a bit of a giraffe having a go at rating agencies perhaps theyd prefer the previous tried and tested model and are upset because a clear point of blame has been negated where companies and countries are downgraded from investment grade 3 weeks after default, at least that way they can blame the rating agencies

Edited by georgia o'keeffe

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  • 311 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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